Improving The Image of Accounting
The Accounting Podcast
Exploring the Use of Chat TPTs for Tax Calculation and the Potential of AI in Tax Planning
This chapter discusses the use of a pre-trained chat TPT on tax regulations, calculating the indirect small business participation percentage, and the potential for AI technology in tax planning.
We’ve got an AI-packed episode this week! Ryan Lazanis demonstrates how AI and voice cloning technology can be utilized to streamline the analysis of financial statements. Blake and David examine various applications of AI in accounting, including tools for extracting key information from emails and documents, an AI-powered tax analysis tool, and the potential for AI to enhance advisory services. They also dig into some issues related to spam and scams in QuickBooks support, emphasizing the need for more granular requirements for accounting services and specialized education in areas like tax and much much more!
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Chapters
- (00:00) - TAP 348
- (01:02) - Preview: Why we need more CPAs
- (01:45) - David finally gets with the TSA Pre program
- (03:20) - Using ChatGPT to write a Medicare appeal letter
- (04:41) - Chad took Beginning Walk/Jog to finish out his 150 hours
- (10:03) - Reflecting on the Unique CPA Bridging The Gap 2023 Conference
- (12:58) - Blake renewed his CPA license with 3 minutes to spare!
- (18:49) - Professor pumps accounting on Wheel of Fortune
- (24:14) - Accounting can make for a flexible lifestyle
- (25:07) - ABC News investigates the Big Four in Australia
- (34:21) - Is there a revolving door between Intuit employees and the IRS?
- (38:54) - Using AI to automate a P&L walkthrough video
- (48:41) - Doing tax research with AI
- (52:26) - Annoucing the "Unofficial QuickBooks Accountants Podcast"
- (54:00) - QuickBooks support scammer caught and punished
- (57:20) - Sean asks: "Is it a CPA shortage, or a resource allocation problem?"
- (01:02:46) - The CPAs education requirement for taxes is too low
- (01:06:44) - Wrap up and remember to subscribe so you don't miss an episode
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Show Notes
“Tax prep giants are terrified. Their lobbyists are working overtime to try to keep the federal government from finally providing an easy, free way to file taxes. But we’re at a historic moment where we can get this done—so let’s keep pushing.” Elizabeth Warren (@ewarren) August 17, 2023
https://twitter.com/ewarren/status/1692232917806698820
Democrats are increasingly optimistic about the IRS' plan to offer free tax prep software and break TurboTax and H&R Block's stranglehold
Democrats accuse tax prep firms of undermining new IRS effort on electronic free file tax returns
https://apnews.com/article/irs-free-file-tax-returns-391ded1dbd73444bada5e946e962d70c
Danielle Booker, Ph.D., CPA on LinkedIn: #accountants #accounting #cpa #patsajak #vannawhite #wheeloffortune…
‘The World’s Fastest Accountant’ Is Running Away From the ‘Boring Stiff Squares’ Stereotype
The 'revolving door' between accounting and the IRS
https://www.accountingtoday.com/news/hundreds-of-irs-employees-worked-for-accounting-firms
IRS agents are getting paid by private accounting firms: watchdog
No Cubicles Here! The Shockingly Sun-Kissed Life of Digital Nomad Accountants
https://hbculifestyle.com/digital-nomad-accountants/
MACPA Chair Christine Aspell looks to combat accounting ...
Passaic County Man Charged in $13 Million Technology Support ...
Hundreds of IRS employees worked for accounting firms
https://www.accountingtoday.com/news/hundreds-of-irs-employees-worked-for-accounting-firms
I took "Intro to Philosophy" to finish out my 150 credits. I thought that was ridiculous. But this guy has me beat!
https://www.linkedin.com/posts/blaketoliver_cpa-activity-7103070376422735872-JZkC
'The World's Fastest Accountant' Is Running Away From the 'Boring Stiff Squares' Stereotype
Jennifer Wilson on LinkedIn: Love this. Accounting is a cool, tech-forward, difference-making…
Tax Genii 1 4 Demo
https://www.youtube.com/watch?v=x-SXc1V58gQ
How a sleeper issue inside the big four accounting giants could topple the economy
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